It's not just basic finance, it's common sense: A large pool of money invested by professionals will yield far greater returns than small, separate accounts managed by individuals with no professional training in finance.

roponents of the drastic Chicago pension cuts sought by the city have threatened a range of doomsday scenarios if their proposal is not enacted. Rather than the thoughtful, informed discussion this matter deserves, this is the equivalent of shouting "Fire!" in a crowded theater.

That's the one good thing you can say about what's going on in Detroit: It will hopefully motivate the politicians, employees and unions everywhere else to face reality and not believe the Tooth Fairy will somehow deposit the cash under their pillows.

Only at the Illinois State Fair can you find corn dogs, politicians, and a 500-lb cow made of butter, all in the same place. Needless to say, it has been an exciting couple of weeks in Illinois, from our heated income tax debate to more messy Metra news, I don't know where to start!

Today, Chicago residents can count on their streetlamps working tonight and the police responding to emergencies in well under an hour. Unless they demand immediate action to address public employee retirement costs, that may not be true tomorrow.

The pension crisis still has no solution, and as each day passes, the Illinois taxpayers are the ones who pay the piper -- literally. It's cost ‪‎taxpayers‬ $21 billion since 2000, and it's only getting worse.